2023 Energy Landscape & Outlook


Outlook 2023: Pathways for Energy Security and Energy Transition will likely be different for each country, depending on availability and affordability. Countries endowed with oil and gas resources are likely to continue reliance on them and use those revenues to look for alternative solutions to energy transition in the near future, while those countries without hydrocarbons, may transition more quickly to renewables, pending affordability. Brazil stands out as an oil and gas producer, but also with significant renewable energy supply. Brazil’s challenge will be managing GHG emissions from land use, as a combination of deforestation and agribusiness generates > 60% of the country’s emissions (energy accounts for < 20%) Role of Critical Minerals will be fundamental to enable progression of renewables and EV usage in global energy matrix. Studies have indicated there will be significant limitations on supply and processing facilities, based on projected growth to meet Climate Change goals Clear and Stable Regulatory Frameworks are now needed more than ever, to encourage investment and development of new technologies. Along with oil and gas, these frameworks include carbonmarket development, carbon capture, offshore wind, licensing of renewable projects, and mining of critical minerals More regional integration in Latin America may occur, given interest and indicated desire for cooperation following recent elections in region As we enter 2023 plus beyond, Latin America is well positioned with hydrocarbons, renewable energy sources, rainforests with carbon offset potential, critical mineral deposits, and intellectual capital. It can be a global provider of solutions if there is cooperation at local and regional levels, coupled with thoughtful policy development


Made with FlippingBook flipbook maker